The Department of the Treasury, Financial Management Service, is proposing to amend its regulation governing agency disbursements to implement the provisions for "Required Direct Deposit" in the United States Code. The United States Code requires that, unless waived by the Secretary of the Treasury, all Federal payments other than payments under the Internal Revenue Code of 1986 must be made by electronic funds transfer (EFT). Our regulation sets forth the responsibilities of Federal agencies and recipients with respect to the electronic delivery of Federal payments and establishes the circumstances under which waivers from the EFT requirement are available.
The proposed rule would provide that individuals who apply for Federal benefits on or after March 1, 2011, would receive their benefit payments by EFT. Individuals who do not choose to direct deposit their payments to an account at a financial institution would be enrolled in Treasury’s Direct Express® Debit MasterCard® card program. The proposed rule would not affect individuals who are already receiving Federal benefit payments by check until 2013. Beginning on March 1, 2013, all recipients of Federal benefit payments would receive their payments electronically, either to a bank account or to the Direct Express® card.
Management of Federal Agency Disbursements
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View AllSubmitter: Dixon, Dorothy Posted: 06/28/2010 ID: FISCAL-FMS-2009-0003-0002
Aug 16,2010 11:59 PM ET
Submitter: Atkinson, Ann Posted: 06/28/2010 ID: FISCAL-FMS-2009-0003-0003
Aug 16,2010 11:59 PM ET
Submitter: Troupe, william Posted: 06/28/2010 ID: FISCAL-FMS-2009-0003-0004
Aug 16,2010 11:59 PM ET
Submitter: CATALDI, RICHARD Posted: 06/28/2010 ID: FISCAL-FMS-2009-0003-0005
Aug 16,2010 11:59 PM ET
Submitter: Bower, Walter Posted: 06/28/2010 ID: FISCAL-FMS-2009-0003-0006
Aug 16,2010 11:59 PM ET
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